Mitsubishi UFJ Lease & Finance Co Ltd Stock Forecast

Mitsubishi UFJ Lease & Finance Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)

8593.T Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.44%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mitsubishi UFJ Lease & Finance Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥1,043.20. On a fall, the stock will find some support from the short-term average at JP¥1,017.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Mitsubishi UFJ Lease & Finance Co Ltd stock

Mitsubishi UFJ Lease & Finance Co Ltd finds support from accumulated volume at JP¥1,019.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥8.00 (0.789%) between high and low. For the last week, the stock has had daily average volatility of 1.65%.

Our recommended stop-loss: JP¥964.19 (-5.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (8593.T) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Mitsubishi UFJ Lease & Finance Company Limited to open at JP¥1,019.17, and during the day (based on 14 day Average True Range), to move between JP¥1,003.34 and JP¥1,039.66, which gives a possible trading interval of +/-JP¥18.16 (+/-1.78%) up or down from last closing price. If Mitsubishi UFJ Lease & Finance Company Limited takes out the full calculated possible swing range there will be an estimated 3.56% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at JP¥1,019.00 (0.24%) than the resistance at JP¥1,026.00 (0.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mitsubishi UFJ Lease & Finance Company Limited stock A Buy?

Mitsubishi UFJ Lease & Finance Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.658 Hold/Accumulate Upgraded

Predicted Opening Price for Mitsubishi UFJ Lease & Finance Company Limited of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.